Coastal Bridge Advisors LLC Invests $1.16 Million in Consolidated Edison Inc $ED

Coastal Bridge Advisors LLC purchased a new stake in shares of Consolidated Edison Inc (NYSE:ED) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 10,478 shares of the utilities provider’s stock, valued at approximately $1,159,000.

A number of other large investors have also recently modified their holdings of the company. Revolve Wealth Partners LLC increased its holdings in Consolidated Edison by 13.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider’s stock worth $332,000 after purchasing an additional 441 shares during the period. Empowered Funds LLC raised its position in Consolidated Edison by 42.1% during the 1st quarter. Empowered Funds LLC now owns 8,978 shares of the utilities provider’s stock valued at $993,000 after purchasing an additional 2,659 shares in the last quarter. Woodline Partners LP lifted its holdings in shares of Consolidated Edison by 40.7% in the 1st quarter. Woodline Partners LP now owns 29,271 shares of the utilities provider’s stock worth $3,237,000 after buying an additional 8,468 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Consolidated Edison in the 2nd quarter worth $3,256,000. Finally, Baird Financial Group Inc. grew its position in shares of Consolidated Edison by 2.1% during the 2nd quarter. Baird Financial Group Inc. now owns 14,679 shares of the utilities provider’s stock worth $1,473,000 after buying an additional 296 shares in the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on ED shares. Morgan Stanley cut their price target on Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating on the stock in a research note on Friday, August 21st. Evercore reaffirmed a “positive” rating and issued a $112.00 price objective on shares of Consolidated Edison in a research note on Monday, August 17th. Argus set a $112.00 target price on shares of Consolidated Edison in a report on Tuesday, June 23rd. Mizuho set a $114.00 target price on shares of Consolidated Edison in a research report on Monday, July 27th. Finally, Barclays cut their target price on shares of Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating on the stock in a research report on Friday, August 7th. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and six have assigned a Sell rating to the company’s stock. According to MarketBeat, Consolidated Edison currently has a consensus rating of “Reduce” and a consensus target price of $108.93.

Consolidated Edison Stock Down 1.3%

Consolidated Edison stock opened at $106.63 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 1.04. The firm has a market cap of $39.43 billion, a P/E ratio of 17.51, a P/E/G ratio of 2.74 and a beta of 0.27. The business has a fifty day moving average of $109.97 and a two-hundred day moving average of $109.90. Consolidated Edison Inc has a twelve month low of $94.96 and a twelve month high of $116.23.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. The business had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $3.60 billion. Consolidated Edison had a return on equity of 8.44% and a net margin of 12.53%.During the same period last year, the business posted $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, analysts forecast that Consolidated Edison Inc will post 6.09 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Wednesday, August 19th will be given a dividend of $0.8875 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $3.55 dividend on an annualized basis and a yield of 3.3%. Consolidated Edison’s dividend payout ratio (DPR) is presently 58.29%.

Consolidated Edison Company Profile

Consolidated Edison, Inc, commonly known as Con Edison, is an investor-owned energy company that primarily delivers electricity, natural gas and steam to customers in the New York metropolitan area. Its regulated utility operations include the distribution and transmission of electric power, the distribution of natural gas, and the operation of one of the largest district steam systems in the United States, serving commercial, institutional and residential customers in New York City and nearby counties.

The company operates through regulated utility subsidiaries that serve urban and suburban service territories, together with non-utility businesses that develop, own and manage energy infrastructure and clean energy projects.